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3rd offer lost, 2nd due to cash offer...is this normal?

Looking to sort of vent a little and also get some advice. First time home buyer on the east coast and we lost our 3rd offer. The first was due to a cash offer, 2nd just barely beat out by a better price, and 3rd by a cash offer. Are cash offers common or just something happening right now? Where the hell are people getting $200k cash from?

Where I am at, people are waiving all contingencies and offering $20k over list price. Will it stay like this? I know there is a lot of talk about things leveling out but what if they don't? What are your guys' thoughts?

submitted by /u/hpizzle12
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source https://www.reddit.com/r/RealEstate/comments/hhp7vh/3rd_offer_lost_2nd_due_to_cash_offeris_this_normal/
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